Personal loan news and advice

All the latest personal loan news and top tips to help you manage your personal loan.

Expert tips 3 ways to spring clean your loan and credit card debt

Expert tips: 3 ways to spring clean your loan and credit card debt

Spring has well and truly sprung. And while this may have you turning your attention to dusting off drawers, clearing out your winter wardrobe or tending to the garden, now could be the time to spring clean your finances as well!  And what’s a big part of many Aussies’ personal finances? Loan and credit card debt. So we’ve spoken to the experts. Combining the knowledge of Mozo’s banking expert Peter Marshall, Athena’s chief marketing officer Natalie Dinsdale, Nano Digital Home Loans’ chief executive officer Andrew Walker and Alex’s chief financial and product officer Craig Fenwick, here are three top tips on helping you pay down your debt this spring!  

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Debt consolidation loans a popular way to dust away debt says societyone

Debt consolidation loans a popular way to dust away debt, says SocietyOne

Feel like your multiple debts have gotten a bit messy lately? Well, it could be time for a spring clean! Managing multiple debts can be tricky, from making car or personal loan repayments to paying off your credit card. But that’s where a debt consolidation loan can make life a little easier (and likely cheaper!). But are debt consolidation loans really that popular? To put it simply, yes they are. According to online personal loan lender SocietyOne, about half (50%) of their loans taken out each month are for debt consolidation, with the average loan sitting at around $20,000. SocietyOne’s chief marketing officer, Nicole Avery breaks down how it all works.

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Want to crush debt here s the mozo editor s picks to help say adios to what you owe

Want to crush debt? Here’s the Mozo Editor’s picks to help say ‘Adios!’ to what you owe

While spending can be fun, paying off personal debt isn’t. But the truth is, the longer you leave your debt unpaid the worse it gets for you. Not only will you fork out more in interest repayments, it can have negative impacts on your credit rating, which will dampen your chances of borrowing or receiving a good rate later on. So whether you’ve racked up too much on your credit card or have multiple debts you can’t control, now's the time to crush it and finally say ‘Adios!’. From debt consolidation loans to 0% balance transfer offers, we’ve rounded up some options that may help you clear your existing personal debt.

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Meet these 4 non bank personal loan lenders offering hot rates right now

Meet these 4 non-bank personal loan lenders offering hot rates right now

When it comes to finding a top personal loan, you don’t always need to knock on the door of banks. In fact, there are plenty of competitive low-rate loan options offered by non-bank lenders. Right now, the average unsecured personal loan rate sits at 9.45% in the Mozo database. However, many non-bank personal loan lenders offer rates well below that average, particularly for customers with an excellent credit rating. Due to many lenders adopting a risk-based pricing model on their personal loan products, in many cases the healthier your credit history, the better rate you’ll receive. So which non-bank lenders offer hot rates right now? Check out these top options below …

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Busted biggest personal loan myths

Busted: Biggest personal loan myths

Whether it’s upgrading your car, investing in some home improvements or even consolidating debts, a personal loan can be a very valuable tool. However, there are some common misconceptions around personal loans that need to be busted before you borrow.

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